Non-Profit Affordable Housing Investment Program

For questions or further details please contact Jennifer Paolino, Program Manager for the Renewable Energy Fund at 401-278-9126 or .

Program	Non-Profit Affordable Housing Investment Program
Eligible Applicants	Non-profit affordable housing developers and agencies
Dollar Limit Per Project & Repeat Funding	No funding shall exceed $100,000 Applicants that have not previously received funding will be given priority
Program’s Funding Amount	Lesser of 10% of the Fund ($200,000 per year collected from the .3 mils / kWhr charge for renewable programs that provides funds for the REF)
Application Deadlines	Applications must be submitted by March 31 and September 30
Ranking Criteria	i) Technical feasibility ii) Financial viability iii) Anticipated amount of renewable energy and related benefits iv) Estimated cost per kilo-watt hour of energy produced over the life of the project v) Project management capabilities vi) Time to market vii) Preference to projects providing the most affordable housing units, the most affordable housing units for the lowest income households, the most affordable housing units that are consistent with the state and local affordable housing development plans.
Terms & Repayment	Output of power and other attributes must be entirely controlled by at least one non-profit affordable housing development & is restricted to producing energy for the non-profit housing development. Repayment is dependant on project specifications.
Form of Financing	Loans, grants, recoverable grants and other financial mechanisms